argenx (NASDAQ:ARGX) Price Target Raised to $606.00

argenx (NASDAQ:ARGX) had its target price increased by JMP Securities from $497.00 to $606.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a market outperform rating on the stock.

A number of other research firms also recently issued reports on ARGX. Wedbush raised their target price on argenx from $519.00 to $560.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Evercore ISI lifted their price objective on argenx from $478.00 to $533.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft downgraded shares of argenx from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Truist Financial increased their target price on shares of argenx from $540.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Raymond James reissued a “strong-buy” rating and issued a $605.00 price target on shares of argenx in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, argenx currently has a consensus rating of “Moderate Buy” and an average price target of $596.78.

argenx Price Performance

Shares of NASDAQ:ARGX opened at $595.58 on Friday. The company’s 50-day moving average is $539.46 and its 200 day moving average is $466.48. argenx has a fifty-two week low of $327.73 and a fifty-two week high of $610.73.

argenx (NASDAQ:ARGX) last released its earnings results on Thursday, October 31st. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $1.29. argenx had a negative net margin of 2.11% and a negative return on equity of 0.96%. The firm had revenue of $588.88 million for the quarter, compared to analysts’ expectations of $543.29 million. During the same period in the previous year, the company earned ($1.25) earnings per share. On average, analysts predict that argenx will post -0.36 earnings per share for the current fiscal year.

Institutional Trading of argenx

A number of large investors have recently modified their holdings of ARGX. TD Asset Management Inc increased its position in shares of argenx by 15.4% in the first quarter. TD Asset Management Inc now owns 223,695 shares of the company’s stock worth $88,073,000 after purchasing an additional 29,810 shares during the last quarter. Seven Eight Capital LP grew its stake in argenx by 66.4% in the 1st quarter. Seven Eight Capital LP now owns 3,110 shares of the company’s stock worth $1,224,000 after buying an additional 1,241 shares in the last quarter. Clearbridge Investments LLC grew its stake in argenx by 36.5% in the 1st quarter. Clearbridge Investments LLC now owns 596,277 shares of the company’s stock worth $234,766,000 after buying an additional 159,480 shares in the last quarter. FORA Capital LLC bought a new position in shares of argenx in the 1st quarter worth $2,024,000. Finally, Mediolanum International Funds Ltd purchased a new stake in shares of argenx during the 1st quarter valued at $4,570,000. Institutional investors own 60.32% of the company’s stock.

argenx Company Profile

argenx SE, a biotechnology company, engages in the developing of various therapies for the treatment of autoimmune diseases in the United States, Japan, Europe, Middle East, Africa, and China. Its lead product candidate is efgartigimod for the treatment of patients with myasthenia gravis, immune thrombocytopenia, pemphigus vulgaris, generalized myasthenia gravis, chronic inflammatory demyelinating polyneuropathy, thyroid eye disease, bullous pemphigoid, myositis, primary sjögren’s syndrome, post-covid postural orthostatic tachycardia syndrome, membranous nephropathy, lupus nephropathy, anca-associated vasculitis, and antibody mediated rejection; ENHANZE SC; Empasiprubart for multifocal motor neuropath, delayed graft function, and dermatomyositis; and ARGX-119 for congenital myasthenic syndrome and amyotrophic lateral sclerosis.